"This quarter demonstrated the results of our hard work over recent quarters, returning Identiv to positive adjusted EBITDA for the first time since 2014, and doing so decisively. $1.7M adjusted EBITDA represents 11% of revenues, demonstrating the potential for profitability our business can deliver at this scale while also investing and growing. This is our third consecutive quarter hitting our targets, increasing operating results while also reducing expenses, and we've held cash stable since the end of Q1. Compared to last year's Q3, we have reduced GAAP OpEx from $14.1M quarterly to $7.1M, and non-GAAP OpEx from $12.5M quarterly a year ago to $5.5M in the most recent quarter. Most importantly, our seasonally strongest quarter remained so, showing sequential and comparative revenue growth of over 20% in our physical access business and over 15% in our smart card reader business. As a result, we believe we remain on track to reach our targets, and confirm our previously communicated guidance for 2016," said Steven Humphreys, Identiv CEO. "These financial metrics are a reflection of the strength of our business and the industry, the proven ability of our team to execute, and the credibility of our business model. In fact, with our market growing about 10%, we're outpacing it and gaining share. Achieving this while also managing a major business re-focus is a testament to these strengths. As we regain our core business strength, we're returning to focusing on and communicating our vision for our expanding business opportunity, which remains unchanged: We're providing what we believe are the most cost-effective, high-performance and convenient solutions to our Hirsch Velocity customers in the U.S. government on their path to FICAM compliance, our smart card reader customers and our partners. As we continue investment to further develop our ICPAM solution, we are seeing increasing traction through our partnership with Cisco and its channel partners. Additionally, OEM partners are leveraging our proven technology smart card reader modules and chipsets to enable secure authentication on their devices. Our unifying theme is providing secure, convenient, cost effective access to all physical resources, known as the Internet of Things (IoT). We believe with our demonstrated business execution and the pivotal role commercial markets will play in wide adoption of IoT, we're positioned to lead this aspect of the IoT revolution."